Sandisk (NASDAQ:SNDK) Shares Down 3.8% – Here’s What Happened

Sandisk Corporation (NASDAQ:SNDK)’s stock price dropped 3.8% during trading on Friday. The stock traded as low as $1,713.47 and last traded at $1,719.99. Approximately 8,129,896 shares were traded during mid-day trading, a decline of 47% from the average session volume of 15,442,337 shares. The stock had previously closed at $1,787.69.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Industry fundamentals remain supportive. Micron reported stronger NAND pricing and indicated that memory supply could remain tight through 2028, while AI data centers continue to increase demand for high-capacity SSDs and NAND products. Citi maintained a Buy rating and a $2,100 price target for Sandisk. Sandisk Corporation Stock: AI Storage Boom Could Keep NAND Supply Tight Through 2028
• Positive Sentiment: Several analysts remain bullish on the long-term outlook, with reported targets ranging from $2,200 to $3,250. Optimism centers on data-center growth, improving pricing, and Sandisk’s shift toward longer-term contracts. Sandisk: Great Long-Term Deal Coverage Balanced By Richer Valuations
• Neutral Sentiment: Sandisk is scheduled to report fiscal first-quarter 2027 results on October 29. That event is the next major catalyst because investors will look for evidence that tight NAND supply, pricing, and AI-driven demand are translating into sustainable earnings growth. What Would You Have Needed To Notice In SanDisk Stock?
• Neutral Sentiment: Commentary is divided after a gain of roughly 700% in 2026. Sandisk’s contracts may provide downside protection but could also limit its benefit from spot-market price increases, while its elevated valuation leaves less room for disappointing results. Surging 700% in 2026, SanDisk Takes Center Stage in Global NAND Storage Squeeze
• Negative Sentiment: Profit-taking and high expectations are weighing on the stock after its sharp run. Recent disclosures also show recurring planned insider selling, with no reported insider purchases in the past six months, adding a short-term confidence concern even though many transactions may be associated with scheduled trading plans. Why Sandisk Corporation Stock Is Down Today

Wall Street Analysts Forecast Growth

SNDK has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $2,200.00 target price (up from $1,200.00) on shares of Sandisk in a report on Thursday, August 13th. Bank of America upped their target price on shares of Sandisk from $2,100.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 target price on shares of Sandisk in a research report on Friday, August 14th. Mizuho decreased their price objective on shares of Sandisk from $1,900.00 to $1,875.00 and set an “outperform” rating for the company in a research note on Tuesday, August 25th. Finally, China Renaissance raised their price objective on Sandisk from $2,000.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,113.92.

Sandisk Stock Performance

The stock has a market cap of $251.84 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 0.17 and a beta of 5.23. The company has a 50-day moving average of $1,540.07 and a 200-day moving average of $1,436.54.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping the consensus estimate of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The business had revenue of $8.96 billion during the quarter. During the same quarter last year, the company earned $0.29 EPS. Sandisk’s revenue for the quarter was up 371.6% compared to the same quarter last year. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, equities research analysts forecast that Sandisk Corporation will post 208.94 EPS for the current year.

Sandisk announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 5th that allows the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Sandisk news, EVP Alper Ilkbahar sold 4,712 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the sale, the executive vice president directly owned 44,134 shares in the company, valued at approximately $67,991,957.72. The trade was a 9.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Luis Visoso sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $1,568.83, for a total transaction of $1,568,830.00. Following the transaction, the chief financial officer owned 130,976 shares in the company, valued at $205,479,078.08. The trade was a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 77,299 shares of company stock valued at $120,118,158 in the last three months. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sandisk

Hedge funds have recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC lifted its position in Sandisk by 14.3% during the second quarter. Dogwood Wealth Management LLC now owns 48 shares of the data storage provider’s stock worth $109,000 after buying an additional 6 shares during the period. Nilsine Partners LLC increased its stake in shares of Sandisk by 3.2% during the 2nd quarter. Nilsine Partners LLC now owns 226 shares of the data storage provider’s stock valued at $514,000 after acquiring an additional 7 shares during the last quarter. Insight Wealth Partners LLC lifted its holdings in shares of Sandisk by 0.4% during the 2nd quarter. Insight Wealth Partners LLC now owns 1,607 shares of the data storage provider’s stock worth $3,654,000 after acquiring an additional 7 shares during the period. Cornerstone Financial Management LLC boosted its position in shares of Sandisk by 60.0% in the second quarter. Cornerstone Financial Management LLC now owns 24 shares of the data storage provider’s stock worth $55,000 after acquiring an additional 9 shares during the last quarter. Finally, Castle Rock Wealth Management LLC grew its holdings in Sandisk by 2.4% in the second quarter. Castle Rock Wealth Management LLC now owns 426 shares of the data storage provider’s stock valued at $969,000 after purchasing an additional 10 shares during the period.

Sandisk Company Profile

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.